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Donald Trump reported $900M + in losses on taxes

Donald Trump reported losses of more than $900 million on his 1995 income tax returns filed in three states, as revealed in documents obtained by The New York Times, that experts say could have allowed him to forgo paying federal income taxes for nearly two decades.

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Updated: 11:27 PM EDT Oct 2, 2016

Donald Trump reported $900M + in losses on taxes

Donald Trump reported losses of more than $900 million on his 1995 income tax returns filed in three states, as revealed in documents obtained by The New York Times, that experts say could have allowed him to forgo paying federal income taxes for nearly two decades.

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Updated: 11:27 PM EDT Oct 2, 2016

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WEBVTT NICOLE: A $900 MILLION LOSS, A NUMBER HIGHLIGHTED IN THE FRONT PAGES OF WHAT APPEARS TO BE DONALD TRUMPS 1995 TAX RETURN. DOCUMENTS ANONYMOUSLY LEAKED TO THE NEW YORK TIMES LAST WEEK. >> I SUSPECT IT WAS A PAINFUL LOSS FOR MR. TRUMP. NICOLE PERHAPS THE FINANCIAL : WRECKAGE OF THREE FAILED CASINOS AND AN AIRLINE BUSINESSES. WE SAT DOWN WITH PATRICK CONNOLLY A TAX PARTNER WITH BLUMSHAPIRO IN QUINCY TO EXPLAIN WHAT IT MEANS. >> IT IS NOT UNUSUAL AS LONG AS IT IS BUSINESS RELATED YOU GET TO CARRY FORWARD OR BACK THOSE LOSSES THE DEDUCTION SO LARGE IT COULD HAVE ALLOWED TRUMP TO AVOID PAYING FEDERAL INCOME TAX RETURNS FOR NEARLY TWO DECADES. SOMETHING HE DID NOT DENY DURING LAST WEEKS DEBATE. >> THEY SHOWED HE DIDN'T PAY ANY FEDERAL INCOME TAX. >> THAT MAKES ME SMART. NICOLE AND HE IS NOT DENYING NOW : IN THIS SUNDAY TWEET, TRUMP SAYS QUOTE I KNOW OUR COMPLEX TAX LAWS BETTER THAN ANYONE WHO HAS EVER RUN FOR PRESIDENT AND AM THE ONLY ONE WHO CAN FIX THEM . AND THE SPIN HAS BEGUN, RUDY JULIANA SUGGESTING THE TAX INFORMATION IS A GOOD FOR TRUMP. >> I WOULD RATHER HAVE A PERSON THAT UNDERSTANDS THE ECONOMY THAN SOMEONE WHO WAS A FAILURE AS SECRETARY OF STATE. NICOLE: MEANWHILE, HILLARY CLINTON TWEETING OUT HER THOUGHTS SUNDAY EVENING. SAYING QUOTE DONALD TRUMP BUILT NUMEROUS SQUANDERED BUSINESSES ON THE BACKS OF TAXPAYERS, AND HE HASN'T EVEN PAID HIS FAIR SHARE NICHOLE: TRUMP'S TAXABLE INCOME IN SUBSEQUENT YEARS, REMAINS UNKNOWN.

Donald Trump reported $900M + in losses on taxes

Donald Trump reported losses of more than $900 million on his 1995 income tax returns filed in three states, as revealed in documents obtained by The New York Times, that experts say could have allowed him to forgo paying federal income taxes for nearly two decades.